BMW m4 2021/2022 comp

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1

Hey I have a question, sorry if I sound like a newb, I am.

I’m interested in a 2021 or 2022 m4 comp.
I previously leased a 2015 x4 that I bought in 2016 that I returned 2 months ago with no missed payments(credit score was around 670 at purchase, new mortgage).

I wanted to know where my score should be if I wanted to lease a m4? Could I walk in there at around 650? Would my mortgage and bmw history get me over or should I try and get my score higher before going in?

Also I know most of the deals with dealerships, brokers, etc are based on a 700+ score but at 650, is it a higher monthly payment and down payment or is it a hard no?

Thanks.

2

at 650 maybe you are ok with full MSD’s but expect a higher MF, you are going to end up paying extra$$$$ to lease that M4 due to credit.

3

Are you asking for the minimum score to qualify at all or what kind of score you need to not pay a lot of extra money?

4

When you say a lot of extra money, is it possible to give a an example? Say a great score gets you $800/mo, I’m looking at about $1000?

5

Both. And whats “a lot of money” $200-$300 more monthly than a person with great credit?

6

Don’t go into a dealership to buy or lease a car. Do it via phone/email then only go in to pick it up.

3 Likes
7

Are you familiar with money factors? and credit tiers?

At a lower credit tier, buyrate is bumped. Dealer MF markups can be added on top of that of course. You can find the exact amount your payment would increase by if you set up a couple leasehackr calculators.

If you aren’t familiar with MF, buyrate, and the leasehackr calculator, I’d suggest reading leasing 101. You’ll save yourself a lot of money and headache by doing so

8

Will do, thanks.

9

With even a perfect credit score good luck managing to get under a 4 figure payment on these.

10

I can’t speak to the credit question, but many dealers are marking up the money factor for even Tier 1 credit scores. So if you can even find an allocation, chances are they will try to mark up the MF. And as mentioned above, you would be looking at $1200 + monthly payment right now on these cars.

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A post was merged into an existing topic: Off Topic Landfill 5

12

You have a mortgage and a lease with no missed payements and your score is 650? Why? Too much credit card debt?

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